Cost cutting has often been regarded as a tried and tested method by large corporations, which want to generate bigger profits. Sometimes, those measures work, but sometimes they don’t, and in the case of American food and beverage, it hasn’t. The plunge in revenues and billions in write-offs for two of its biggest brands has […]Continue Reading
Swiggy is reportedly closing on a deal to acquire Uber Eats, the food delivery arm of online cab booking company Uber. The business was launched in January 2017 and is currently worth over $330 million. At the time of launch, Uber India had high hopes from Uber Eats, however stiff competition from established giants like […]Continue Reading
The world’s biggest manufacturer of computers, Lenovo Group, shrugged off the United China-China trade tensions to post a handsome profit in its quarterly results. The Chinese companies results beat the estimates of analysts, and this is an important development since many would have expected the computer maker’s results to be disappointing due to the trade […]Continue Reading
International Monetary Fund (IMF) economists have come up with the idea of separating electronic money and cash as a way of securing future stability of the world economy. Doing so will give the central banks a way to enable the negative interest rates needed to combat future recessions of the world economy? Base interest rates […]Continue Reading
With the recent enactment of EU’s Payment Service Directive (P2D2) requirement for banks to create APIs that let third parties initiate payments on behalf of consumers. Adyen has become an early adapter to this by introducing a new open banking payments method that will enable authentication of payments between the consumer and the bank avoiding […]Continue Reading
Air France and KLM have to manage to agree on strengthening ties between the airlines, putting an end to a power struggle that had been bothering the Dutch government, staff, and shareholders. In the process, Air France has secured a salary agreement with pilots after an elongated protest which saw them college strike last year, […]Continue Reading
Declaring the annual financial report card for 2018, HSBC on Tuesday admitted falling short of expectations on several fronts, following a challenging fourth quarter. Markets across the globe experienced sharp falls in business activity during the last quarter. Europe’s largest bank’s reported pre-tax profits for 2018 stood at $19.89 billion, a 15.9% jump from the […]Continue Reading
The Chief Executive Officer of Nordea Bank Abp Casper von Koskull has called on the critics of Finland based back to show patience and added that bank is well on its way to staging a turnaround in the fiscal year 2020. Nordea Bank has been in doldrums for some time, and in recent years, the […]Continue Reading
The uncertainty surrounding Brexit and a gloomy job outlook have plunged the household income outlook index in the United Kingdom to an 11-month low. The IHS Markit’s Household Finance Index tracks the sentiments of people regarding their income expectations, and it is indicative that the index has plunged to its 11-month low just as the […]Continue Reading
The Royal Bank of Scotland (RBS) has reported profits of £1.62 billion for the year ending 2018. The year on year profit growth has been over 200% from £752 million in the preceding year. The Bank has revealed a near £1 billion windfall for the taxpayer. This is the bank’s second consecutive year yielding profits, […]Continue Reading